MF Global's board met over the weekend to discuss its options, according to a Bloomberg report, which cited an anonymous source.

Investors have been dumping shares of MF Global because of worries about the firm's exposure to European government debt. On Friday the stock closed down 23 cents, or 16.1%, at $1.20, after trading as low as 99 cents. Moody's ( MCO) and Fitch Ratings cut the firm's credit rating to near junk status on Thursday, with Moody's giving it a Ba2 and Fitch giving it a BB+.